StockNews.com assumed coverage on shares of Otonomy (NASDAQ:OTIC – Get Rating) in a research note issued on Sunday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.
Otonomy Stock Performance
Shares of NASDAQ OTIC opened at $0.01 on Friday. Otonomy has a 1 year low of $0.01 and a 1 year high of $2.54. The firm’s 50 day moving average price is $0.09 and its 200 day moving average price is $0.11. The firm has a market cap of $582,479.50, a P/E ratio of -0.01 and a beta of 1.54.
Institutional Trading of Otonomy
Hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new position in Otonomy during the third quarter worth approximately $1,621,000. Lynx1 Capital Management LP raised its stake in Otonomy by 7,609.6% during the third quarter. Lynx1 Capital Management LP now owns 2,312,880 shares of the biopharmaceutical company’s stock worth $682,000 after purchasing an additional 2,282,880 shares during the period. Requisite Capital Management LLC purchased a new position in Otonomy during the third quarter worth approximately $44,000. Dimensional Fund Advisors LP raised its stake in Otonomy by 17.7% during the first quarter. Dimensional Fund Advisors LP now owns 841,694 shares of the biopharmaceutical company’s stock worth $2,020,000 after purchasing an additional 126,747 shares during the period. Finally, Two Sigma Investments LP raised its stake in Otonomy by 129.2% during the third quarter. Two Sigma Investments LP now owns 142,183 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 80,153 shares during the period. Institutional investors and hedge funds own 41.23% of the company’s stock.
Otonomy Company Profile
Otonomy, Inc operates as a biopharmaceutical company. engages in the development of therapeutics for neurotology. The firm’s product pipeline includes OTIVIDEX (dexamethasone) Meniere’s disease, OTIPRIO (ciprofloxacin otic suspension) acute otitis media with tubes (AOMT), OTO-313 (gacyclidine) tinnitus, OTO-413 (BDNF) hidden hearing Loss, OTO-510 (otoprotectant) prevent CIHL, OTO-6XX (hair cell regeneration) severe hearing loss.
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